The Costs Associated with Searching for Economic Agents with Whom

question 68

Multiple Choice

The costs associated with searching for economic agents with whom the firm contracts,negotiates,and enforces contracts with are:

• A) Transaction costs.
• B) Fixed costs.
• C) Procedural costs.
• D) Implicit costs.

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Definitions:

Kiosks

Standalone physical units often used in public places for providing information, services, or for conducting transactions, such as ticket sales or check-ins.

ATMs

Automated Teller Machines, electronic banking outlets that allow people to complete transactions without needing to visit a bank branch.

Webcams

Video cameras that are connected to a computer or network, capable of streaming live video for teleconferencing, surveillance, or broadcasting.

Digital Divide

A term that refers to the gap between individuals, households, businesses, and geographic areas at different socioeconomic levels with regard to their opportunities to access information and communication technologies (ICTs).